MARKET CLOSE: NZ shares gain as thaw in US-China trade relations boosts optimism; Pushpay rises on upgrade

The S&P/NZX 50 index rose 21.77 points, or 0.2 percent, to 9,270.76, a weekly gain of 1.9 percent. Within the index, 31 stocks gained, 14 fell and five were unchanged. Turnover was $133.6 million.

The local bourse followed global stock markets higher on optimism ministerial-level discussions between US and Chinese officials will end the escalating trade barriers being imposed by the world's two biggest economies. Japan's Topix was up 0.9 percent in afternoon trading, while Australia's S&P/ASX 200 index gained 0.7 percent and Hong Kong's Hang Seng rose 0.7 percent.

"The olive branch seems to have been extended by the US to China on trade," said Greg Smith, head of research at Fat Prophets. "Those talks will happen in the coming weeks and the market's optimistic about that."

Pushpay led the local market higher, up 4.4 percent to $4.04 after the payments software developer was upgraded to a 'buy' by a broker. The stock has gained 18 percent from a trough in August.